Vedder Price’s client, Perpetual Limited (Perpetual), announced yesterday the closing of its acquisition of Trillium Asset Management Group, LLC (Trillium).

The acquisition brings together two highly respected investment management businesses. Perpetual will leverage its strong brand and distribution capabilities to assist in bringing Trillium's environmental, social and governance (ESG)-focused products to a broader investor base in Australia and intends to expand into new markets across Asia Pacific, the Middle East and Europe. Perpetual has commenced the build-out of an experienced and scalable distribution team in the United States to accelerate Trillium's growth.

Adam S. Lewis and Julia L. Brook (Finance & Transactions), and Nathaniel Segal and Joseph M. Mannon (Investment Services) led the team from Vedder Price. Also providing key input on the deal were Philip L. Mowery (Employee Benefits), Andrew Falevich (Tax), Cara J. Ottenweller (Labor & Employment), Adam S. Goldman (Investment Adviser and Adviser Employment Matters) and Michael J. Turgeon (Intellectual Property). Other contributors included Gregory G. Wrobel (Regulatory Input), Brian K. McCalmon (Regulatory Input) and Thomas H. Petrides (CA Employment Matters).

“We are proud of our partnership with Perpetual and the work our cross-disciplinary deal team put forth in assisting with this transaction,” said Mr. Segal. “Sustainable investing is one of the fastest-growing areas in money management today, and we’re excited to be a part of Perpetual’s growth in ESG investing through this acquisition and beyond.”

Perpetual, founded in 1886 and one of Australia’s largest wealth managers, is a diversified financial services company providing specialized investment management, wealth advice and corporate fiduciary services. Trillium was founded in 1982 and is among the oldest investment advisory firms exclusively focused on ESG investing.

Vedder Price is pleased to announce that Thomas Lopez, a first-year law student at Stanford Law School, and Rushi Patel, a first-year law student at Columbia Law School, have been named Diversity Scholars in Chicago and New York, respectively. This is the sixteenth year Vedder Price has provided the scholarship, which provides both a monetary award and placement in the firm’s Summer Associate Program.

Mr. Lopez will assist the firm’s Corporate, Litigation and Labor & Employment practice areas from the Chicago office. Prior to attending Stanford Law, Mr. Lopez graduated from Yale University with a B.A. with Distinction in History (Politics, Law, & Government). As an undergraduate, Mr. Lopez played on Yale’s Rugby team and was a Dean’s Office counselor for first-year students transitioning to college. Currently, Mr. Lopez is an editor for the Stanford Journal of International Law and is a volunteer for the Stanford Law Immigration Pro Bono Project. He will also co-author a textbook on Afghan law with the Afghanistan Legal Education Project, and will work with the Professional Development Committee of the Stanford Latinx Law Students Association.

“While the United States is filled with individuals from all different walks of life, the U.S. legal field does not reflect the diversity of its citizens,” said Mr. Lopez. “The Vedder Price Diversity Scholarship is an important step in supporting underrepresented groups in the legal field. I’m looking forward to gaining valuable professional experience at Vedder Price this summer and learning from mentors who promote and appreciate diversity.”

Mr. Patel will assist the firm’s Corporate practice area, particularly the Global Transportation Finance team, from the New York office. He brings to Vedder two years of experience as a high school world history teacher through Teach For America, and spent a summer as an Investment Banking Analyst at a New York City investment bank. Mr. Patel graduated as Valedictorian from New York University with a B.S. in Finance & Politics. There, he also served as Vice President of Beta Gamma Sigma Honors Society and President of the NYU Social Impact Council.

Born in New Jersey to immigrant parents, Mr. Patel has always valued and embraced diversity. “Diversity is recognizing and then embracing the different perspectives and backgrounds we all bring to the table,” he said. “The Diversity Scholarship will help me fund my legal education while gaining a valuable, hands-on experience at Vedder Price.”

Since 2005, the Vedder Price 1L Diversity Scholarship Program has awarded more than $100,000 to law students to further promote and enhance diversity and a culture of inclusion at the firm. As Summer Associates, Mr. Lopez and Mr. Patel will receive one-on-one training and mentorship to acclimate them to the legal profession and help guide them in their path to becoming lawyers. Recipients are selected by the firm’s Diversity Committee for their academic excellence and on-campus involvement.

“We are pleased to support Tommy and Rushi, two outstanding individuals and promising lawyers, in their legal education through our annual 1L diversity scholarship program,” said Jeanah Park, Chair of Vedder Price’s Diversity Committee. “By investing in the next generation of diverse lawyers, we hope to do our part in broadening and enriching the talent pool across the legal industry.”
To learn more about the Vedder Price Diversity Scholarship, please click here.

We are pleased to announce that incoming first-year associate and 2019 summer associate George Cortina has been selected as the firm’s Public Interest Law Initiative (PILI) Graduate Fellow. Vedder Price is sponsoring Mr. Cortina’s public interest work with Land of Lincoln Legal Assistance Foundation in Champaign as part of the PILI Fellowship Program, which allows an incoming first-year associate to work at a public interest legal aid organization in Illinois while studying for the Bar Exam. Beginning June 1, Mr. Cortina will dedicate 300 hours to pro bono legal services prior to beginning work as a first-year associate.

“The PILI Fellowship means a lot to me,” said Mr. Cortina. “Vedder has given me the opportunity through this fellowship to help those in my community with the greatest need. It has allowed me to work directly with clients in helping them resolve legal issues and use the legal knowledge that I have acquired throughout my law school career before I start working as an associate.”

PILI ensures quality supervision by experienced attorneys and provides extra educational, networking and advising opportunities. Mr. Cortina will focus his Fellowship pro bono services on assisting veterans, individuals that need help obtaining public benefits and on family law cases. “As attorneys, we are in a unique position to provide a voice for and be an advocate to those that otherwise would not be heard,” Mr. Cortina shared. “I look forward to rejoining my colleagues at Vedder and using this invaluable pro bono experience to further assist those in need.”

PILI’s mission is to cultivate a lifelong commitment to public interest law and pro bono service within the Illinois legal community to expand the availability of legal services for people, families and communities in need. Shareholders Daniel Lange and Patrick Spangler serve on the PILI Board of Directors as Secretary and Board Member, respectively.

“We’re proud to expand our partnership with PILI by sponsoring George as our Graduate Fellow,” said Mr. Lange. Mr. Spangler, Co-Chair of the firm’s Pro Bono Committee, continued, “It’s important for us to instill Vedder’s commitment to providing pro bono legal assistance in our new associates and we look forward to George officially joining us with this vital experience under his belt.”

Land of Lincoln Legal Assistance Foundation’s lawyers provide a full range of civil legal assistance to low-income residents from 65 counties in central and southern Illinois, including providing advice and counsel, litigation, and community education. For more information about Land of Lincoln, please click here.

Vedder Price is pleased to announce that attorney Ben Williams has been selected for the Chicago Committee’s inaugural Pathway to Partnerships Program, a business development program for diverse, senior associate attorneys. The program is designed to help attorneys develop client relationships and to increase the number of diverse partners at large law firms in Chicago.

The program matches attorneys nominated by the firm with a corporate client. Mr. Williams, whose practice focuses on mergers, acquisitions, commercial and corporate transactions, will be working with a national association.

“We are proud to partner with the Chicago Committee on this fantastic business development initiative for diverse attorneys,” said Jeanah Park, Chair of the firm’s Diversity Committee. “At Vedder, we are committed to maintaining and enhancing a diverse workforce while promoting both the individual talent of our attorneys and our ability to provide our clients with excellent service through attorneys like Ben. This program reflects both of those goals and we are excited for the new opportunities it will allow a talented attorney such as Ben. ”

“I’m honored to be selected as the firm’s Pathway to Partnership Fellow,” said Mr. Williams. “I look forward to not only working closely with the national association to deliver best-in-class client service on behalf of the firm, but also the opportunity to take part in the professional development and relationship-building that this program has to offer.”

The Chicago Committee seeks to enhance racial and ethnic diversity in the legal profession by collaborating with its law firm and corporate membership to: drive sustainable institutional change at law firms and corporate legal departments; provide professional development; and cultivate the community of minority lawyers through programming and leadership opportunities.

Shareholder Edward K. Gross and Associates Erich P. Dylus and Jonathan M. Rauch of the firm’s Global Transportation Finance team published “Under Scrutiny: The New GAO Recommendations for FAA Aircraft Registration” in the current issue of the ABA’s The Air & Space Lawyer (vol. 33, no. 2, 2020).

To read the full article, click the link below.

On June 29, 2020, USEPA issued a memorandum on a termination addendum to the COVID-19 temporary enforcement policy. USEPA has selected August 31, 2020, as the termination date for the temporary enforcement policy, as it recognizes that the circumstances surrounding the temporary policy are changing, but also ensures that there is adequate time to adjust to the changing circumstances.

Since the issuance of the COVID-19 Implications for USEPA’s Enforcement and Compliance Assurance Program on March 26, 2020, new federal guidelines and directives have been issued to support both the public health response and economic recovery efforts. In addition, many parts of the country have already taken steps to relax social distancing restrictions in parts or all of individual states, with the goal of returning to normal operations.

The USEPA recognizes that states and businesses are on differing schedules for reopening. As such, as states and businesses reopen, there will be a period of adjustment as regulated entities plan how to effectively comply with both environmental legal obligations as well as public health guidelines regarding actions suggested to stem the transmission and spread of COVID-19.

The USEPA has determined that it is now appropriate to expressly include a provision that covers termination of the temporary policy, and to make changes to the policy as are necessary to reflect the impact of the changing circumstances on facility operations, worker shortages, and other public health constraints.

As stated in the temporary policy, entities should make every effort to comply with their environmental compliance obligations and; the policy applies only to situations where compliance is not reasonably practicable as a result of COVID-19. USEPA anticipates that these situations should decrease over time.

The temporary enforcement policy terminates in its entirety at 11:59 PM Eastern Daylight Saving Time, August 31, 2020. This means that USEPA will not base any exercise of enforcement discretion on the temporary policy for any noncompliance that occurs after August 31, 2020. USEPA has reserved the right to terminate the temporary policy at any earlier time, and will provide notification at least seven (7) days in advance, if USEPA decides to terminate the temporary policy prior to August 31, 2020. In the event that the USEPA deadline changes, we will issue an update to this Alert.

VP has a full-service environmental practice that can assist companies with every aspect of environmental compliance. VP can also assist your company with crisis management planning and execution. Visit our Coronavirus Task Force Page for additional information about how you and your colleagues can address the multitude of transactional, regulatory, litigation, and employee relations issues that you are facing as a result of this public health crisis.

There are over 26 million people in the United States today who are limited English proficient (LEP), and that number is expected to grow rapidly in the near future. Engaging with these customers in their primary language represents a huge opportunity for banks and financial institutions, but it's important for banks serving this market to stay compliant with an ever-evolving regulatory landscape.

Mark Svalina, an attorney at Vedder Price and member of the firm’s Financial Institutions group, will be a featured speaker at a webinar hosted by Transperfect to help banks navigate the regulatory issues involved in serving LEP customers. Mark will be joining Tom Emery, Director of Business Development at TransPerfect, to discuss how banks can implement an effective LEP program in compliance with applicable federal and state laws.

Date: Tuesday, July 7, 2020

Time: 10:00 AM EST / 9:00 AM CST

All attendees will have access to TransPerfect’s newly released whitepaper, focusing on regulatory challenges that banks face.

Register Here

Joseph M. Mannon, a Shareholder in Vedder Price’s Investment Services group and Chair of the firm’s Private Fund Formation practice, will be a featured speaker at the Investment Adviser Certified Compliance Professional (IACCP) Virtual Symposium on Tuesday, July 14, 2020. Mr. Mannon will be participating in a panel discussion entitled Trading Compliance: Best Execution, Soft Dollars & Directed Brokerage.

The IACCP Virtual Symposium is co-sponsored each year by the Investment Adviser Association and National Regulatory Services. The event focuses on professionals in the investment adviser industry, providing interactive compliance education led by seasoned legal and compliance industry specialists addressing topics such as investment adviser trading, regulatory mandates for advisers, SEC examinations, business continuity, ethics, and critical skills for high-performance compliance professionals.

Register Here